AMLI Residential owns a 25% interest with a pension plan in AMLI at Park Bridge, which cost $25 million to develop. Rents average $1,010 a month, or $0.99 per sf. AMLI Residential owns a 40% interest in AMLI at Castle Creek, which cost $21 million to develop. Rents average $904 a month, or $0.93 per sf.
"The addition of newly-constructed communities like these has kept the caliber of our portfolio high and its average age low, currently at about six years," says AMLI President Allan Sweet.
AMLI's portfolio includes 71 apartment communities with 27,586 units. An additional 2,217 apartment units are under development or in lease-up in six locations.
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